- Before we really dig in,
I'd like to start off by defining marketing overall
and then business-to-business marketing,
which is often referred to as B2B marketing.
Marketing differentiates one brand from another
to influence customers to choose that brand
and create loyalty and advocacy.
All that's true for B2B marketing,
but more specifically, B2B marketing promotes products
or services from one business to another business
that either cannot or chooses not to provide that service
or make that product themselves.
So for example, a company like Deloitte
that offers accounting services
could market to a restaurant like Subway,
to help them with bookkeeping, accounting and tax services.
A technology company like Intel could market
to a retailer such as Walmart,
to sell them software or processor products
to use for their employees or customer systems.
Or Intel could sell products to a company like Dell
that uses their products as an ingredient
for Dell's products, which Dell then sells to consumers.
Now, the biggest difference between B2B
and consumer marketing is the target audience.
Consumer marketing targets consumers.
B2B marketing targets businesses.
Here are a few more differences.
B2B marketing typically has a more vertical or niche market.
B2B markets tend to be in one industry
or even one product type,
targeting maybe thousands of customers.
Whereas consumer markets tend to be larger and broader,
reaching millions of customers.
More thought leadership.
B2B customers seek more detailed information,
such as education about a product's technological advance
or expertise to deliver a service.
More stakeholders.
Consumers usually decide on purchases by themselves
or with one or two friends or family members.
Pretty simple, right?
Well, B2B customers' purchases often are higher priced
or are multifaceted, such as company-wide technology.
There's a higher risk involved,
so it's not surprising
that there are more stakeholders involved in decisions.
C-suite, meaning executives with a C title,
such as chief executive officer or chief financial officer,
often are included as key decision-makers.
And decisions often include internal disciplines,
such as regulatory, legal,
risk management, or procurement.
81% of these types of disciplines
have a say in the purchase decision.
B2B marketing also has a longer purchase cycle.
Consumer products tend to have short life cycles,
like buying toothpaste every few weeks.
B2B purchases can have lengthy contracts
and might be purchased in bulk volume to receive a discount.
So purchase decisions have less flexibility to switch brands
or consider a new product or service.
More one-on-one relationships.
B2B organizations often include salespeople
for in-person, live customer contact
to build trust and credibility.
Personal relationships are cultivated closely and over time
between a sales representative and the customer.
To engage your customers,
consider what's unique to B2B marketing
before you begin writing your marketing plan.